Currencies Overview: The Focus is Back on Central Bank Policies

The euro, sterling, and dollar prices stabilized on Thursday on hopes that some COVID-19 vaccines could neutralize the coronavirus mutated Omicron, and analysts say attention is once again focused on monetary policy.

Some concerns related to the emergence of the Omicron mutant were eased when BioNTech and Pfizer said three doses of their vaccine combated the new mutant in a laboratory test.

Analysts said that if the laboratory results prove accurate, the market’s attention will return to focus on the following meetings of central banks.

The euro fell 0.2 percent to 1.1319 dollars by 0915, to remain close to its highest level in a week, which was recorded in the previous session.

The dollar index, which measures its price against a basket of six major currencies, rose 0.15 percent to 96.082.

The price of the sterling pound witnessed little change, and recorded $1.3207, after hitting a new record low this year in yesterday’s session, after the British Prime Minister imposed more stringent restrictions to limit the spread of Covid-19 in England, asking people to work from their homes, placing masks in public places and using Vaccination certificates.

Bitcoin price fell 2.2 percent to below $49,515 and has been swinging within a narrow range after falling sharply at the weekend.